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    • Breaking News
    May 2, 2024
    • DoorDash plunged 9.9% to $114.80 after the food delivery company reported a wider-than-expected loss in its latest quarter. 

      Revenue increased 23% to $2.5 billion from $2.05 billion, net loss attributable to shareholders shrank to $25 million from $161 million, and diluted loss per share fell to 6 cents from 41 cents a year ago. 

      In the first quarter, total orders increased by 21% to 620 million, and gross sales volume rose by 21% to $19.2 billion, driven in part by a more than 100% increase in the new vertical, grocery delivery. 

      Free cash flow increased to $487 million from $316 million, and operating cash flow rose to $553 million from $397 million a year ago. 
      • eBay Inc. declined 3.8% to $49.11 after the online marketplace operator estimated weaker-than-expected revenue in the current quarter. 

        Revenue in the first quarter increased 2% to $2.55 billion from $2.51 billion, net income declined 23% to $439 million from $569 million, and diluted earnings per share dropped to 85 cents from $1.05 a year ago. 

        The company estimated second-quarter revenue in the range of $2.49 billion and $2.54 billion, an increase between -1% and +1%.

        The online marketplace operator estimated second-quarter diluted earnings per share between 76 cents and 81 cents. 
        • Wayfair Inc. advanced 7.5% to $54.31 after the online furniture retailer reported a narrower loss in its latest quarter, partly driven by layoffs. 

          Total net revenue in the first quarter declined 1.6% to $2.72 billion from $2.77 billion, net loss shrank to $248 million from $355 million, and diluted loss per share eased to $2.06 from $3.22 a year ago. 

          Active customers in the first quarter increased by 2.8% from a year ago to 22.3 million. 

          The company processed 9.6 million orders in the quarter, a decline of 1%, and repeat customers placed 7.7 million, an increase of 1.3% from a year ago, respectively. 

          The average order value in the first quarter decreased to $285 from $287 in the corresponding period a year ago. 
          • Carvana soared 35% to $118.0 after the automotive retailer reported higher-than-expected revenue in the first quarter. 

            Net sales in the first quarter rose to $3.06 billion from $2.60 billion, net income attributable to shareholders swung to a profit of $28 million from a loss of $160 million, and diluted earnings per share were 23 cents from a loss of $1.51 a year ago. 

            Vehicles sold in the first quarter rose 16% from a year ago to 91,878, and gross profit jumped to 19.3%. 

            Gross per unit in the first quarter jumped to $6,802 from $6,432 a year ago. 
            • Qualcomm increased 5.2% to $172.78 after the advanced chipmaker reported better-than-expected earnings in its latest quarter and issued strong guidance for the current quarter. 

              Revenue in the fiscal second quarter ending on March 24 rose 1% to $9.38 billion, net income surged 37% to $2.3 billion from $1.7 billion, and diluted earnings per share advanced 36% to $2.06 from $152 a year ago. 

              During the fiscal second quarter, the company returned $1.6 billion to stockholders, including cash dividends of $895 million, or 80 cents per share, and $731 million through repurchases of 5 million shares of its own common stock.

              The company guided fiscal third quarter revenue to range between $8.8 billion and $9.6 billion and GAAP earnings per share between $1.74 and $1.94. 

               
              • May 1, 2024
              • Starbucks Corp. dropped 13% to $77.0 after the coffee chain operator reported weaker-than-expected revenue and earnings in the first quarter. 

                The expensive coffee chain is battling an uneven and fragile economic recovery in China, its second-largest market, and elevated inflation in the U.S. is keeping customers away from discretionary purchases. 

                Global comparable store sales declined 4%, driven by a 6% decline in comparable transactions, partially offset by a 2% increase in average ticket. 

                North America and U.S. comparable store sales declined 3%, driven by a 7% decline in comparable transactions, partially offset by a 4% increase in average ticket. 

                Consolidated revenue in the fiscal second quarter ending in arch declined 1.8% to $8.6 billion from $8.7 billion, net income dropped 15% to $772.4 million from $908.3 million, and diluted earnings per share declined to 68 cents from 79 cents a year ago. 

                The company increased cash dividends per share to 57 cents from 53 cents a year ago. 
                • AMD fell 6.8% to $147.70 after the advanced chipmaker reiterated its full-year outlook, dampening expectations of sales and earnings revisions. 

                  Revenue in the first quarter increased 2% to $5.47 billion from $5.35 billion, net income swung to a profit of $123 million from a loss of $139 million, and diluted earnings per share were 7 cents compared to a loss of 9 cents a year ago. 

                  For the second quarter, AMD projected revenue of $5.7 billion with a band of $300 million, representing growth of 6% from a year ago at the midpoint of the revenue range.  
                  • Pinterest soared 16.6% to $39.03 after the social media company reported better-than-expected revenue and earnings in the first quarter. 

                    Revenue in the first quarter increased 23% to $740 million from $603 million, net loss shrank to $24.8 million from $208.6 million, and diluted loss per share eased to 4 cents from 31 cents a year ago. 

                    The company projected second-quarter revenue between $835 million and $850 million, representing growth between 18% and 20% from a year ago. 
                    • Super Micro Computer dropped 14% to $738.50 after the company announced lower-than-expected third-quarter revenue of $3.85 billion and higher-than-expected adjusted earnings per share of $6.65. 

                      Net sales in the fiscal third quarter ending in March increased to $3.85 billion from $1.28 billion, net income soared to $402.5 million from $85.5 million, and diluted earnings per share advanced to $6.56 from $1.53 a year ago. 

                      The company estimated for the fiscal fourth quarter ending in June revenue between $5.1 billion and $5.5 billion and diluted earnings per share between $7.20 and $8.05, including $30 million in expenses related to stock-based compensation. 
                      • Amazon.com rose 1.6% to $177.85 after the online retailer and cloud services provider reported better-than-expected revenue and earnings in the first quarter after advertising revenue soared 24%. 

                        Net sales in the first quarter increased 13% to $143.3 billion from $127.4 billion, net income soared to $10.3 billion from $3.2 billion, and diluted earnings per share advanced to 98 cents from 31 cents a year ago. 

                        Sales in North America increased 12% from a year ago to $86.3 billion, and international sales rose 10%, or 11% in constant currency, to $31.9 billion. 

                        The company said revenue in the current quarter is expected to range between $144 billion and $149 billion, representing an increase between 7% and 11%. 

                        The Amazon Web Services business soared 17% to $25 billion, calming the worries that the division's growth had topped out following slower growth last year. 

                        The company said it plans to invest $10 billion in Mississippi, the single largest capital investment in the state's history, and build two data center complexes and generate 1,000 jobs.